Significant changes in accounting and reporting requirements in 2026

What finance departments need to know and how they can prepare

The accounting landscape at the start of 2026 finds four significant changes that will impact measurement, presentation, disclosure and the technology used for financial reporting. As finance leaders and reporting teams prepare to implement the changes, they will need to move beyond checklists in the next several months: success will be based on understanding the substance of each change, adjusting policies and systems, enhancing controls and engaging stakeholders.” This article describes the big themes in the 2026 shifts, what they will mean on a practical level and offers a step-by-step plan to get ready.

Key themes for 2026

Measurement and classification shifts

Some of the changes relate to how assets, liabilities and performance are measured and categorized. Anticipate new guidance that will alter when and how some revenues and expenses are recognized, revised criteria for differentiating between operating and financing activities, as well as amended measurements of estimates and fair values. These changes can result in profit measures, covenants and tax positions being impacted.

Practical impact: Some entities will need to restate or make retrospective adjustments, while others may need to provide clear reconciliations in the first period of reporting under the new rules.

Expanded disclosure requirements

Reporting is to be more transparent. The new rules expand the level of disclosure required—more narrative explanation, quantitative roll-forwards, sensitivity analysis and scenario disclosures are all required. The goal is to give users a better understanding of the assumptions, risks and drivers behind report results.

Practical implications: Teams should gather and maintain detailed support, standardize the presentation form, and set up narrative to ensure that disclosures are in sync and auditable.

Sustainability-related reporting and non-financial integration

We see more coalescence between financial and sustainability information. Revisions could include aligning nonfinancial metrics with financial results, reformulating measurement methodologies for climate and transition impacts, and disclosing the cost of sustainability strategies.

Practical implications: Coordination of the accounting, sustainability, treasury and strategy functions will be necessary to enable traceability of information from operational metrics through to financial statements.

Digital and structured reporting

Data being structured and in an, essentially computer-readable form is increasingly becoming common. New filing requirements and tagging conventions make digital delivery more standardised, which in turn will improve comparability and open up for automatized analysis.

Practical implications: Accounting and IT must take the initiative to create tagging solutions, validate taxonomy mappings and perform technical prechecks in order to prevent filing rejections or discrepancies.

Automation, controls and continuous monitoring

And automation will be both a solution and a demand. The vast amount of information to be reported and the need for prompt disclosure also make automation appealing; but this in turn demands strong automated controls, exception management and audit trails.

Practical implications: Organizations may integrate automated reconciliations, workflow tracking and continuous monitoring to enable cost effective , high-quality reporting.

These changes in how core processes are affected

Close and reconcile: Faster, data-rich reporting will mandate earlier alignment of ledgers and consistent account mappings. Don’t expect manual caveman hacks to last for much longer.

Accounting policy and governance: Policy manuals will need to be refreshed with clear, practical guidance and decision trees. "Board governance is critical in order to approve judgments and document estimate methodologies.

Public reporting and Investor communications: With added granularity in disclosures and new presentation requirements, expect earnings calls to change along with materials provided to investors. Messaging had to convey that link of technical change to business performance.

Audit and internal control: Auditors will be looking for stronger documentation, control evidence and testing of automated processes. Internal control structures of processes should include a review of new reporting processes.

Practical preparation roadmap

Conduct a focused impact assessment

Put together a cross-functional team to diagram how all the changes flow through impacted accounts, disclosures systems and people. Determine where the new requirements change recognition, measurement or disclosure. Give preference to things that will change your metrics or your covenants.

Update of accounting policies and technical positions

Prepare unambiguous implementation direction that converts principles into practical day-to-day accounting actions. Enclose sample texts, journal entry forms and required disclosures to minimize conflicting interpretations.

Align data and systems

Identify data sources, align definitions and update master data for new measurements and tagging purposes. Develop or modify interfaces which would support disclosure templates and structured reporting outputs.

Improve controls and conduct dry​ runs

Develop automated and manual controls to ensure data integrity, completeness and presentation. Conduct side-by-side reporting cycles and reconciliation processes to uncover holes and fine-tune your exception handling prior to your initial filing.

Train staff and communicate changes

Deliver role based training for accounting, reporting, IT and audit individuals. Developing communications for Executive and Board members to explain the impacts and timing of recast.

Involve auditors and advisors early

Auditors and outside advisers should be early on the scene to ensure that everyone in the process has valid expectations with respect to judgments, restatement demands, and testing. Arrange scheduling for audit evidence that crosses new processes.

Regulatory and agile Stay curious – Wait and see.

Interpretations of rules and application guidance may change to reflect new understanding. Keep something in place to follow updates and adjust plans for implementation rapidly.

Risks and mitigation strategies

[Not full datalineage: Construct end-to-end monitoring for data from source systems all the way through adjustments to final pronouncements. It does help to have good data lineage tools, and clear metadata standards in place.

Too much manual work: Automate repeat reconciliations and tagging to higher up the list but not the bottom items; focus humans on judgement areas and exceptions.

Communication gaps: Build stakeholder maps and bespoke briefings for finance, executives, investors and regulators to prevent surprises.

Control deficiencies in automated processes - Ensure the existence of segregation of duties, automated alerts on exceptions and periodic testing cycles.

Final checklist for Q4 readiness

Full impact assessment and policy review

Complete changes for systems and mapping, and end to end testing flows

Adopting disclosure templates and tagging rules

RIP at least one full cycle of Parallel reporting.

Train teams and revise governance charters

Schedule auditor alignment sessions

Conclusion

The accounting and financial reporting differences in 2026 are of consequence and occur along many dimensions. Those organizations treating the transition as a program of work that integrates technical accounting clarity, data readiness, automation capabilities and disciplined controls will be least disrupted and best positioned to maintain stakeholder confidence. “The earlier, the better, and focus on traceability of an estimate to a control,” Dr. Loughrige said, also suggesting use of parallel runs to test assumptions. And adopting appropriate technology will transform regulatory change from a burden to comply with, into an opportunity to enhance the quality of reporting and efficiency in operations.”